Angel Co-Investment Funds (ACIFs)
ACIF by CE-CONNECTOR
Startups are key drivers of innovation and therefore future prosperity of Central Europe. Despite the availability of new financing schemes, there is still a financial investment gap for startups, which is between 3Fs (Friends, Family Founders) and VC (Venture Capital). Our general objective is therefore to build a sustainable transregional co-investing ecosystem in Central Europe, through the establishment of public-private co-investment scheme, where Providers of public leverage invest together with the groups of Business angels to startups. Such schemes are called Angel Co-Investment Funds (ACIFs).
To make the CE-Connector ACIF successful, the initial partners from the Czech Republic, Poland, Slovenia, Hungary, Croatia and Baden-Wuerttemberg (Germany) want to increase the number of territorial business angels and raise their investing competence, to facilitate CE-Connector ACIF pilot investments, and to ensure sustainability and upscale to full-scale Angel Co-investment Fund.
The Strategy of CE-Connector ACIF is the first core analytical, positioning, ambition
and legal structure related document of the CE-Connector ACIF partnership.
ACIF Ce-Connector project in Croatia
CE-CONNECTOR transnational platform for early stage investments into innovative start-ups range between 75k - 1 mil EUR, with a minimum of 3 Business angels per investment.
Ce-Connector project in Croatia is implementing by Invento Capital Partners and ZICER.
With our partners we brought the key ecosystem players together and developed a strategy that enables public-private co-investment in 6 European countries from Germany, Poland, Croatia, Slovenia, Hungary and Czech Republic.
ABOUT Ce-Connector PROJECT
Ce-Connector - Building sustainable transregional co-investing ecosystem
Ce-Connector –Building knowledge and linkages among Business angels and Public across territorial ecosystems to close the financial gap for innovative start-ups project. The project is implemented in partnership with 10 project partners from 5 countries and 7 associated partners from 5 countries and co-financed by the European Regional Development Fund. Startups are key drivers of innovation and therefore future prosperity of Central Europe. Despite the avaiability of new financing schemes, there is still a financial gap, which exists between 3Fs ( Friends, Family and Founders) and VC (Venture Capital). Main objective of the project is to build knowledge and linkages among Business angels and public institutions across territorial ecosystems through establishing a sustainable transregional co-investing ecosystem, where Business angels invest together with providers of public leverage with the aim to close the financial gap between 3Fs and VC investment.
Project activities: Within the project a transregional Angel Co-investment Fund will be set up and during it’s pilot operation 3 public-private co-investments to start-ups from the RIS3 strategic segments per partner will be realized. This will amount to 18 start-ups invested with 75 000 – 1 000 000 EUR per investment, 75% provided by business angels, 25% by public providers and 1 co-investment per partner wil be transregional.
The sustainability of the angel co-investment funds will be ensured through action plans for the first 2 years after the end of the project when the funds will be active and up-scaled. Invento Capital Partners is responsible for implementation of all territorial activities and ecosystem building in Croatia with the help of our national partner Zagreb Innovation Centre (Zicer) and associated partner Croatian Agency for SMEs, Innovations and Investments (HAMAG BICRO). Invento Capital Partners will be in charge of operation of our territorial Angel Co-investment Fund.
Lead partner: • DEX Innovation Centre – Czech Republic
ERDF partners: - Invento Capital Partners – Croatia - Zagreb Innovation Centre – Croatia - P-INVENT Consulting, Trading and Services Kft – Hungary - Szechenyi Venture Capital Fund Manager Ltd – Hungary - Bogatin, market research and consulting company, Ltd – Slovenia - Technology park Ljubljana – Slovenia - Lodzkie Region – Poland - Automotive Engineering Network –The Mobility Cluster e.V – Germany - Centre for Support of Entrepreneurship “Connect” Sp. Ltd – Poland - City of Karlsruhe – Germany
Associated partners: - The European Trade Association for Business Angels, Seed Funds and Early Stage Market Players – Belgium - Innovation centre of the Usti region – Czech Republic - Slovene Enterprise Fund – Slovenia - Government Office for Development and European Cohesion Policy – Slovenia - Business Angels of Slovenia – Slovenia - Croatian Agency for SMEs, Innovations and Investments – Croatia - Hungarian Business Angel Network – Hungary
Project period: 01.04.2019. – 30.06.2022.
Project Budget: Overall budget: 1 995 288,03 EUR ERDF Contribution: 1 675 627,42 EUR Partners Contribution: 319 660,61 EUR
The third edition of CE-Connector Days was held online on June 14 2022. The conference was attended by more than 140 participants from all over Europe, including startup founders, investors and government representatives. The main objective was to share experience and skills on investing in early stage startups.
Check the agenda here
Read INVENTO participation and impressions @ Angel Co-investment Fund je zaživio – najbolje rezultate imaju Nijemci i Slovenci